By Laura Lutz
Des Moines, Aug. 10 - Lakota Resources Inc. settled its private placement of units for C$1,074,500, down from the C$1.1 million size announced on Aug. 6.
In total, the company sold 5,372,500 units of one share and one warrant at C$0.20 per unit. Each warrant will be exercisable at C$0.30 for two years.
Of the units, 4,322,500 were sold for proceeds of C$864,500 in a first tranche that closed on Aug. 6.
When the deal was announced on May 30, it was expected to include 1 million shares at C$0.30 each for proceeds of C$300,000. It was upsized to C$1 million and changed to its current terms on June 22.
It was further upsized to C$1.1 million on Aug. 6.
The placement is non-brokered.
Lakota is Toronto-based gold exploration company.
| Issuer: | Lakota Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,074,500
|
| Units: | 5,372,500
|
| Price: | C$0.20
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Announcement date: | May 30
|
| Upsized: | June 22, Aug. 6
|
| Settlement date: | Aug. 6 (for C$864,500); Aug. 10 (for C$210,000)
|
| Stock symbol: | TSX Venture: LAK
|
| Stock price: | C$0.28 at close May 30
|
| Stock price: | C$0.225 at close June 22
|
| Stock price: | C$0.235 at close Aug. 3
|
| Stock price: | C$0.21 at close Aug. 10
|
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